Hard Rock Café sold to Native Americans

A Native American tribe emerged today as the surprise winner in the billion-dollar auction of the world famous Hard Rock Café business.

The Seminole tribe of Florida has agreed to pay $965m (€724m) in a deal believed to represent the first purchase of a major international company by a Native American Indian tribe.

The Seminole tribe currently derives 90% of its revenues from gaming but said the acquisition of 124 Hard Rock Cafes and seven hotels and casinos would offer the diversification sought by its Tribal Council.

The first Hard Rock Cafe opened in London in 1971. Beginning with an Eric Clapton guitar, Hard Rock owns the world’s largest collection of music memorabilia, which is displayed at its locations around the world.